Now that reports have put the salary cap as high as $132 million for 2014, the same source has said, once again, it will be higher.

Per the source, the cap could be a “few million” higher than $132 million. If this means $3 million more than reported, the cap could be as high as $135 million. That would amount to an 9.75 percent increase over last year, the biggest spike by far since the 2011 labor deal was negotiated.

Updates from Saturday, Feb 22

ESPN's John Clayton has the latest on what the salary cap will be set at in the coming year:

Original Text

The NFL salary cap is set to increase by roughly 5 percent in 2014, according to league sources, per ESPN's Adam Schefter.

The cap number is projected to be raised to $130 million in 2014, allowing teams to exceed last year's mark of $123 million.

The jump is much larger than what many had been expecting. According to NFL.com's Kevin Patra, the projected increase was around $126.3 million.

The new cap number would be good news for NFL Players Association head DeMaurice Smith. He has been under fire since the cap has not exceeded that 2009 number since the NFLPA agreed to a new CBA to end the 2011 lockout. A $130 million cap will put that criticism in the rear view mirror.

Tandler adds that the $130 million figure tops the previous high of $128 million set back in 2009. And as Patra notes, this news will open doors for teams struggling to get under the cap or looking to spend in the spring.

The Dallas Cowboys and New Orleans Saints are two notable franchises looking to cut spending this offseason, and they will now have more flexibility in how they shape their roster in the coming months.

Cowboys Executive Vice President Stephen Jones talked about Dallas' tight cap situation heading into the offseason last month, per The Star-Telegram's Carlos Mendez:

It’ll limit you. At the same time, I think we can manage to get through it, get done what we need to get done and get better...I think we’ll always manage through it, but we’re still in a tight situation after coming off the penalties [losing cap space in 2012 and ’13] and things like that. We’re still up against it.

With the new figure set to kick in before all 32 clubs are forced to be under the 2014 salary cap on March 11 at 4 p.m. ET, teams like the Cowboys and Saints can reassess their finances before making any moves.

In addition to the added breathing room for teams over the cap, the extra space will allow clubs more money to spend in free agency and on potential contract extensions.